Quote:
Originally Posted by Unregistered
Best to let them buy their own homes, otherwise you will likely end up with squabbling children as your condo apts bought at different times are not the same. Even if they have same values, they may not be of same sizes, same location, FH vs 99 yrs etc...
Learn from other cases (eg in the news lately). Better to give them cash - easier to be equitable. We are rethinking our plan to let our children have equal share of our properties when we pass on. They can choose to sell them and divide the proceeds or to agree to sell / buy over each other's share at prevailing prices.
It is sad to see families breaking up because of such things.
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Totally agree with you, that is why in my will, I have instructed my landed and 5 condos to be liquidated upon my demise. Then the monies will can be distributed among my 2 children and wife. So, there is no issue on who gets which condo or the landed. They should have enough to buy their own properties to their liking.